Singularity DAO SDAOPrice $ 0.0561

SingularityDAO is a decentralised, blockchain-based organisation with the main goal of governing DynaSets, diversified baskets of cryptocurrency assets dynamically managed by AI. Voting power in SingularityDAO is granted by the SingularityDAO token (SDAO). SingularityDAO brings the sophisticated risk-management strategies of AI-managed funds to DeFi, using SingularityNET’s superior AI technology.

The DAO allows users to vote on proposals using liquid democracy, also known as delegative democracy. In effect, this means users can vote directly on proposals, or take a more hands-off approach by delegating their tokens’ voting power to someone else to vote for them.

The DAO will control, in a democratic way, which DynaSets are on the platform. It will also have the power to make changes to the economic variables and protocols of the platform, or even amend governance protocols. Proposals can be tabled only by the SingularityDAO team at first, with this power being decentralized to the community of token holders progressively over 5 phases.

The SingularityDAO Governance Token

The SingularityDAO Governance Token, SDAO, is an ERC-20 utility token on the Ethereum blockchain that grants access to the SingularityDAO protocol.

SDAO has utility in granting rights to participate in DAO governance voting events on the SingularityDAO protocol. Through several utility functions the SDAO Governance Token can interact with the SingularityDAO Protocol smart contracts. Those particular utility functions are:

• To vote either FOR or AGAINST or BLANCO a SingularityDAO Governance Proposal through its Voting Function.
• To create a SingularityDAO Governance Proposal.
• To delegate one’s voting function to another wallet on the ethereum blockchain

They can impact the protocol in various ways, such as:

• Which DynaSets are accepted as options for members to choose from. Initially, users will be able to choose from the DynaSets created at launch, but later we will allow the DAO mechanism to propose and create new DynaSets
• What formula to use for prioritizing Optimizers, in the case there is more demand for borrowing than there are tokens to be borrowed.
• The operation of the liquidity pools needed for support of DynaSet tokens and Optimizer activity on the backend
• Updates to the SingularityDAO Governance Protocol